What is the name of the rider that allows a company to waive premium payments if the insured becomes disabled?

Prepare for the Primerica Life Insurance Exam with in-depth study materials and practice questions. Enhance your understanding with detailed explanations and quizzes. Ace your test with confidence!

The rider that allows a company to waive premium payments if the insured becomes disabled is known as the Waiver of Premium. This rider is specifically designed to protect the policyholder by enabling them to maintain their life insurance coverage during a period of financial hardship caused by their disability. Once the insured meets the criteria for disability, the insurance company takes over the responsibility of paying the premiums, ensuring that the policy remains in force.

This feature can be invaluable, as it alleviates the burden of premium payments during challenging times, thereby enhancing the protective aspect of the life insurance policy. If a policyholder becomes unable to work and earn an income, the Waiver of Premium rider ensures they won’t lose their coverage, allowing them to focus on recovery without financial stress regarding insurance payments.

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